Papa John’s Anchored Strip
For Sale
Contact for pricing
10901 CRENSHAW BLVD, Inglewood, CA 90303
Multi-tenant strip center with Papa John’s anchor and 100% occupancy on primarily NNN leases.
Property Size8,636 SF
Price / SF$431.33
Days on Market130
Property Features for 10901 CRENSHAW BLVD
General Information
Standard status
Active
Size
8,636 SF
Total Parking Spaces
39
Property subtype
Retail
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$190,061
Building Details
Year Built
1988
Buildings
1
Stories
1
Units
7
Tenancy
Multi
Listing Agency:
CBRE - Ontario
Listed By:
Justin Marlowe · License #CA 01992131
(909) 418-2216
Source:
Crexi
Added: Apr 29
Changed: Aug 31
Last Checked: Sep 2 at 5:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Ontario
Investment Insights
Based on property information with market context.
Crenshaw Plaza is an 8,636 SF, multi-tenant strip center that is 100% occupied and anchored by Papa John’s Pizza. The tenant mix includes restaurant, convenience, and service-oriented uses supporting the daily needs of the surrounding residential population. Ownership reports a long-standing history of high occupancy, with many tenants operating at the property for 5+ years.
The property is located at 10901 Crenshaw Blvd in Inglewood, Los Angeles County, and features a rent roll comprised primarily of NNN leases. As a result, operating expense reimbursements are generally structured through the lease agreements.
For investors and operators seeking a stable, occupied retail platform in a dense residential area, Crenshaw Plaza presents a convenience-driven retail configuration with a set of established tenants.
The property is located at 10901 Crenshaw Blvd in Inglewood, Los Angeles County, and features a rent roll comprised primarily of NNN leases. As a result, operating expense reimbursements are generally structured through the lease agreements.
For investors and operators seeking a stable, occupied retail platform in a dense residential area, Crenshaw Plaza presents a convenience-driven retail configuration with a set of established tenants.
Key Highlights
- 8,636 SF multi‑tenant strip center at 10901 Crenshaw Blvd, Inglewood (Los Angeles County), built in 1988
- 100% occupied with a tenant mix that includes a Papa John’s Pizza anchor
- Long‑standing history of high occupancy, with many tenants operating for 5+ years
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$218,292
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.86%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,365,840
$4.4M
Cap Rate 7%
$3,118,457
$3.1M
Cap Rate 9%
$2,425,467
$2.4M
Market Conditions
NOI Build-Up for 8,636 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$319.2K $36.96/SF
− Vacancy
−$7.3K −$0.85/SF
EGI
$311.8K $36.11/SF
− OpEx
−$93.6K −$10.83/SF
NOI
$218.3K $25.28/SF
Area
Inglewood, CA
Vacancy
2.30%
Lease Rate
$36.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,365,840
Cap Rate 7%
$3,118,457
Cap Rate 9%
$2,425,467
Alternative Uses
Best Use
Retail
$3.12M
$2.73M – $3.64M
NOI $218,292 @ 7.0% cap · market cap 5.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.52M
$3.08M – $4.11M
NOI $246,644 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
913
Businesses Nearby
330k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 36%
Dining 36%
Shops & Services 20%
Electronics 4%
McDonald's
Dining
47,317 visits/mo
0.5 miles
Food 4 Less
Groceries
45,505 visits/mo
0.5 miles
Superior Grocers
Groceries
41,663 visits/mo
0.3 miles
Smart & Final
Groceries
32,431 visits/mo
0.5 miles
NORMS
Dining
24,691 visits/mo
0.5 miles
Demographics for 90303, CA
24,490
Population
7,354
Households
3.3
Avg Household Size
35
Median Age
18%
College-Educated
73%
High-School Grad
1.9 sq mi
ZIP Area
12,889
Density / Sq Mi
$70,853
Median Household Income
$36,292
Median Earnings
$1,709
Median Rent
$764,200
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Multi-tenant strip center with Papa John’s anchor and 100% occupancy on primarily NNN leases.
Where is this strip mall located?
The property is located at 10901 CRENSHAW BLVD Inglewood, CA.
What is the asking price?
The asking price for this property is $3,725,000.
What are key features of this property?
This property features: 8,636 SF multi‑tenant strip center at 10901 Crenshaw Blvd, Inglewood (Los Angeles County), built in 1988; 100% occupied with a tenant mix that includes a Papa John’s Pizza anchor; Long‑standing history of high occupancy, with many tenants operating for 5+ years
